Need Cash to buy a home? When you use one of NH Housing’s programs you can also get cash assistance which can be used toward either down payment or closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More costsClosing costs are the fees and charges due at closingClosing is the meeting — typically in person — where all parties sign the final loan and property paperwork and the transaction becomes official. It’s the last step in the process, the point where months of paperwork, verification, and waiting turn into... More beyond the down payment itself — the collection of costs that pay for all the […]
When does my mortgage insurance go away?
When/how to remove private mortgage insurance (PMI) from a loan… To remove private mortgage insurance (PMI) that you pay on your mortgage loan, you must be up to date with your monthly payments. These rules apply to mortgages closed on or after July 29, 1999. Federal law generally provides two ways for you to remove PMI […]
Avoiding a credit score drop…
You’ve prequalified for a mortgage and you think you’re all set. You find the perfect house and you call your loan officer to set up the loan. The loan officer pulls a new credit report and tells you that your score has gone down and now your rate will be higher, or worst, you no […]
Financing for Marginal Credit – which lo
If you have less than perfect credit, you may assume that you need a large down payment to get approved, but that is not the case. If you are eligible for a VA loan or an RD (Rural Development) loan, you may be able to get approved for a loan with no down payment! […]